Published : Aug. 5, 2014 - 20:35
Park Yong-hak
Park Yong-hak, honorary chairman and founder of the now defunct textile-maker Dainong Group, died on Saturday of a chronic illness. He was 99.
Born in 1915 in Gangwon Province, Park established Daehan Nongsan ― a grain and fertilizer exporter ― in 1955. After acquiring Midopa Department Store in 1971, Park changed the name of his business to Dainong Group before handing it over to his son in 1989. The group expanded under the junior Park’s helm but was liquidated in 1998 amid the Asian financial crisis.
The late Park was chairman of the Korea Federation of Textile Industries from 1980-1983 and chairman of the Korea International Trade Association from 1991-1994.
In 1989, Dainong acquired The Korea Herald and its sister business daily Naeway Economic Daily, currently named The Herald Business.
(tellme@heraldcorp.com)